I cannot figure out how to set up the following word problem into an equation.
Raoul invested \$40,000 in 2 different types of bonds. The first type earned 4% and the second type earned 5%. If the profit (interest) on the 5% bonds was $200 more than the profit (interest) on the 4% bonds, how much did Raoul invest in the 5% bonds?
This is what I have so far:
x= how much Raoul invested in the 5% bond. 50,000 - x = how much Raoul invested in the 4% bond.
But how can I us the $200 more profit earned if I don't know the amount of profit in the first place?